A quick look at yesterday: the Nasdaq slid down from 11,300 to 11,226, taking a 73.65 points loss (0.52%)
The MACD is significantly above its signal line, which suggests the market is running out of bullish momentum and could revert to a negative outlook as bears regain control. 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. On the other hand, note that the Nasdaq could begin to recover as it approaches significant support, now 25.05 points away from 11,200. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting the Nasdaq to extend its recent losses.
In the meantime, negative performances are also seen in other markets, Hang Seng slides down 0.49% yesterday and closed at 17,661.
Other assets are showing positive performances as FTSE is trading around 7,486.67 after ending yesterday's session at 7,466.6 (up 0.27% today). Notably, Dow Jones rose 0.45% yesterday and closed at 34,200.
The Nasdaq is up 9.34% from the significant low of 10,321 it hit a month ago.